Siacoin Cryptocurrency Review – What Is Siacoin?
David Vorick and Luke Champine of all Nebulous Inc, a VC-funded startup in Boston, created Sia. The idea of Sia was originally conceived at HackMIT 2013.
Siacoin brings blockchain technology to the cloud storage space. Instead of building large servers that cost a lot of money to maintain, they are building,g a network of people that everyone can join and give their free area to others and make some cash.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Siacoin Cryptocurrency Review – What Is Siacoin?
Siacoin uses a truly decentralized information storage option to interrupt the cloud-storage industry. Rather than a centralized static server, the Sia system offers decentralized blockchain storage.
Siacoin’s wallet is the sole means to store SC and the money utilized to power trades in the Sia ecosystem. Host servers are providers, and customer servers are users. Users compensate hosts in Siacoin for hosting consumer data within a free-market crypto-economy.
Over 1.1 petabytes of storage can be found on the Sia system, from which only 2 percent is now being used. If Sia manages to become at least a single big company on board, available space would immediately disappear, meaning a higher need for distance. In addition, the price of the Siacoin would skyrocket because more people are buying coins to be able to rent their space.
Sia’s unique p2p storage version could interrupt the cloud sector, like the transportation industry was interrupted by ride-sharing platforms like Uber.